61-5A-13. Amount of surety bond.
72 words·~1 min read·
/sd/title-61/chapter-61-5/61-5a-13·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The amount of the bond required by § 61-5A-12 is equal to the maximum effective tax rate times the organization's taxable wages paid for employment as defined in §§ 61-1-15 and 61-1-36 for the four calendar quarters immediately preceding the effective date of the election. If the nonprofit organization did not pay wages in each of such four calendar quarters, the amount of the bond shall be as determined by the department.